Question: Hello , Need help finding and understand solution to this Fincail Accounting problem . Thanks ! Problem 1 On January 1, 2017, ABC Corp. issues

Hello ,

Need help finding and understand solution to this Fincail Accounting problem .

Thanks !

Hello , Need help finding and understand solution to this Fincail

Problem 1 On January 1, 2017, ABC Corp. issues $80,000 of 10-year bonds with stated interest rate of 10%. The market interest rate was 8% when the bonds were issued. Interest would be paid semiannually on June 30 and December 31 (1) What is the issue price of the bonds? (2) Prepare the journal entry for the issuance of the bonds on January 1, 2017. (3) Prepare the journal entry for the first interest payment on June 30, 2017. (4) Assuming the market interest rate was 12%, repeat requirement (1), (2), and (3)

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